Stamp duty on convertible warrants
This query is : Resolved
29 January 2013
Dear Friends,
A private limited company has issued warrnats to a body corporate having a face value of Rs 13. crores. The warrants are convertioble into equity shares within a period of 7 years at the option of allotte.
Out of which 10% amount Rs 1.30 crores is payable on subscription and balance 90% on conversion of warrants into equity.
can any one pls guide me whether a stamp duty is payable on such warrants under Delhi Stapms Act and at what stage and at what value.
Looking forward to a prompt response.
Thanks & Regards
P.C. Joshi
A private limited company has issued warrnats to a body corporate having a face value of Rs 13. crores. The warrants are convertioble into equity shares within a period of 7 years at the option of allotte.
Out of which 10% amount Rs 1.30 crores is payable on subscription and balance 90% on conversion of warrants into equity.
can any one pls guide me whether a stamp duty is payable on such warrants under Delhi Stapms Act and at what stage and at what value.
Looking forward to a prompt response.
Thanks & Regards
P.C. Joshi
30 January 2013
Any Response pls????????????
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